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Mortgage payment to income share in the UK 2018, by type of buyer

In 2018, first time buyers paid higer total mortgage payments relative to their income compared to people who already owned a home. The mortgage payment of first time buyers was 17.6 percent of income, while for former owners it was 16 percent. The total mortgage payment refers to the total of all monthly payments over the full term of the mortgage.

Total mortgage payment as a percentage of income in the United Kingdom (UK) in 2018, by type of buyer

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Source

Release date

March 2020

Region

United Kingdom

Survey time period

2018

Supplementary notes

The source adds the following information: "From 1999, the average mortgage rate is a composite figure which has been constructed from a weighted combination of building society and bank mortgage interest figures to give an overall estimate of the mortgage rate. The mortgage repayment is for capital and interest charges. The data published in these tables are based on a sub-sample of RMS data. These results will therefore differ from results produced using full sample data."

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